UTRADE Web Conditional Orders in HK Market

Contents Order Types 

At-auction Limit Order

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Limit Order

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Enhanced Limit Order

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Special Limit Order

Conditional Order Types 

Send When Nominal Rises At/Above

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Send When Nominal Falls At/Below

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Hold Until I Release

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Stop Limit

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OCO (One Cancels the Other)

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Order Types At-auction Limit Order An at-auction limit is only available within the auction period. It is an order with a specified price. An at-auction limit order with a specified price at or more competitive than the final IEP (in case of buying, the specified price is equal to or higher than the final IEP, or in case of selling, the specified price is equal to or lower than the final IEP) may be matched at the final IEP subject to availability of eligible matching order on the opposite side. An at-auction limit order will be matched in price and time priority at the final IEP. No at-auction limit order will be matched at a price worse than the final IEP. Limit Order A limit order will allow matching only at the specified price. The sell order input price cannot be made at a price below the best bid price, if available whereas the buy order input price cannot be made at a price above the best ask price, if available. Any outstanding limit order will be put in the price queue of the input price. Enhanced Limit Order An enhanced limit order will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at a time provided that the traded price is not worse than the input price. The sell order input price cannot be made at a price of 10 spreads (or more) below the current bid price whereas the buy order input price cannot be made at a price of 10 spreads (or more) above the current ask price. Any outstanding enhanced limit order will be treated as a limit order and put in the price queue of the input price. Special Limit Order A Special Limit Order will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at a time provided that the traded price is not worse than the input price. The sell order input price cannot be made at a price of 10 spreads (or more) below the current bid price whereas the buy order input price cannot be made at a price of 10 spreads (or more) above the current ask price. Any outstanding special limit order will be cancelled. The Special Limit order is only available to place during continuous trading session (not available in pre-opening session / closing auction session. It is advised not to add 2

conditional order for Special Limit order as unmatched orders will be withdrawn immediately after execution. Thus result may not suit the purpose of investment needs.

Reference: Hong Kong Exchange and Clearing Website https://www.hkex.com.hk/eng/market/sec_tradinfra/tradmech.htm

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Conditional Order Types When Nominal Rises At/Above When Nominal Rise At/Above Order allows you to set trading condition to an order. When the price reaches or rises higher than the preset trigger price, the system will automatically send the order to the market. For example, the nominal price is now at $10. When the nominal price rises and reaches the trigger price at $11, the order will release to the market and sell at $11:

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Select Hong Kong Exchange and click Sell Select Type E-Enh. Limit. Input Stock Code, Price and Quantity. Select Send When Nominal Rises At/Above from Send Condition

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Input Trigger Price. Click OK to place order.

Remarks：  Samples are for references only, real trades might not be able to execute due to different market conditions or technical problems. Please study the trading rules on different order types.  Trigger Price cannot be changed when it has already set in ahead. Client should CANCEL and RESET the order if one wishes to change the Trigger Price.  Conditional orders involve trading risk; trader should have a good understanding of the trading principle before using the functions.

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Send When Nominal Falls At/Below When Nominal Falls At/Below allows you to set trading condition to an order. When the price reaches or drops lower than the preset trigger price, the system will automatically send the order to the market For example, the nominal price is now at $10. When the nominal price drops and reaches the trigger price at $9, the order will release to the market and buy at $9:

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Select Hong Kong Exchange and click Buy Select Type E-Enh. Limit. Input Stock Code, Price and Quantity Select Send When Nominal Falls At/Below from Send Condition

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Input Trigger Price Click OK to place order

Remarks：  Samples are for references only, real trades might not be able to execute due to different market conditions or technical problems. Please study the trading rules on different order types.  Trigger Price cannot be changed when it has already set in ahead. Client should CANCEL and RESET the order if one wishes to change the Trigger Price.  Conditional orders involve trading risk; trader should have a good understanding of the trading principle before using the functions.

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Hold Until I Release Hold Until I Release allows you to hold an order in the trading system. You can release the order to the market anytime by clicking Release Order.

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Select Hong Kong Exchange and click Buy o Sell

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Select type L–Limit or E-Enh. Limit. Input Stock Code, Price and Quantity Select Hold Until I Release from Send Condition Click OK to place order Right click and select Release Order to send the order to market

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Stop Limit Stop limit is an order to reduce loss or protect profit. When the trigger price is reached, the order will be sent to the market as an Enhanced Limit Order. For example, the nominal price is now at $10. When the nominal price drops to $9.5 and reaches the trigger price, the trading system will automatically send an Enhance Limit Order at $9.5 to the market and sell no lower than $9. If the order can not be fully executed, the outstanding quantity will be put in the price queue at $9:

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Select Hong Kong Exchange and click Sell Select Type E-Enh. Limit. Input Stock Code, Price and Quantity Select Stop Limit from Send Condition Input Trigger Price Click OK to place order

Remarks：  The Trigger Price of a Buy Stop Limit Order must be equal or lower than Order Price; the Order Price and Trigger Price must be higher than Nominal Price.  The Trigger Price of a Sell Stop Limit Order must be equal or higher than Order Price; the Order Price and Trigger Price must be lower than Nominal Price.  Samples are for references only, real trades might not be able to execute due to different market conditions or technical problems. Please study the trading rules on different order types.  Trigger Price cannot be changed when it has already set in ahead. Client should CANCEL and RESET the order if one wishes to change the Trigger Price.  Conditional orders involve trading risk; trader should have a good understanding of the trading principle before using the functions. 7

OCO (One Cancels the Other) OCO order includes Limit Order and Stop Loss Order at the same time. OCO order can help you to achieve your profit target, at the same time, reduce the risk of loss due to opposite market trend. If the limit order of OCO order is executed, the stop loss order will be cancelled. Conversely, if the stop loss order is executed, the limit order will be cancelled. For example, the nominal price is now at $10. An OCO is placed and target to sell at $10.5 to take profit. However, the market goes oppositely, when nominal price drops to $9.5, the trigger price $9.5 will be triggered and the Stop Loss Order will be sent to the market and sell no lower than $9. The Limit Order at $10.5 will be automatically cancelled once the Stop Loss Order is triggered:

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Select Hong Kong Exchange and click Sell Select Type E-Enh. Limit. Input Stock Code, Price and Quantity

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Select OCO from Send Condition Input Trigger Price and Stop Price Click OK to place order

Remarks：  Samples are for references only, real trades might not be able to execute due to different market conditions or technical problems. Please study the trading rules on different order types.  Trigger Price cannot be changed when it has already set in ahead. Client should CANCEL and RESET the order if one wishes to change the Trigger Price.  Conditional orders involve trading risk; trader should have a good understanding of the trading principle before using the functions. 8

Assistance and Feedback Please contact the Client Service Hotline (852) 2136 1818 or email to [email protected] for any assistance and feedback.

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